The Importance of Understanding Trustees' Duties & Responsibilities:
The Tax Office imposes a strict set of requirements upon SMSF members and trustees. The consequences of failing to perform are severe. For example, there are substantial penalties when trustees draw cash out from the fund for their personal use or access funds early when "a condition of release" has not been satisfied.
For that reason we run SMSF Education Seminars for members, trustees and other accounting firms.
Given our knowledge and experience in the SMSF area we have also set up an independent SMSF audit service to assist other accounting firms. This specialist service targets firms who wish to outsource their SMSF audit function, either to focus on core services or satisfy the independence guidelines required by the Tax Office. The major benefits of this service include:
- Quick Turnaround Service;
- Advice on key documentation and workflow efficiencies (including use of BGL)
- Australia Wide Service